Weather conditions and the situation in Ukraine are still the main drivers of market movements on world commodity exchanges. Negotiations on the export corridor for Ukrainian grains, between the UN and Russia, ranged from optimism to pessimism and back.
In addition to all the geopolitical problems in the world, which concern the movement of food and energy prices, the drought and the drop in yields additionally affected the uncertainty on the domestic market. The economic year for spring crops has just started, and plans for a long period of time are extremely difficult to make. What is extremely important to do is to make an analysis of the actual state of stocks of grains and oilseeds in domestic warehouses.
During the previous week, 17.325 tons of goods were traded through the Product Exchange, which is 3,2 times higher than the previous week. The financial value of the turnover was 6.561.687,25 €.
Corn has recorded a price increase since the beginning of the week. This cereal was traded in the range of 298,36 to 300,53 €/t. The weighted weekly price is 299,63 €/t, which is a 1,24% increase on the weekly level. In the same period last year, corn was traded at 234,42 €/t, i.e., corn is 27,8% more expensive today.
The price of wheat largely depended on the protein level and ranged from 340,98 to 349,50 €/t. The weighted price was 341,49 €/t, which is a 1% increase on the weekly level. The wheat is of extremely good quality this year. It is estimated that favourable weather conditions, as well as the drought that decimated the spring crops, will influence the growth of areas under winter crops this season.
The Republican Directorate for Commodity Reserves bought a total of 12.000 tons of wheat on the market through Produktna berza, at a price of 349,50 €/t.
There were fewer soybeans in supply than usual for this time of year. Soybean was traded at an average price of 665,76 €/t, which is 3,6% lower than the previous week.
Of the other commodities, feed barley with a specific mass of 58 kg was traded at 285,57 €/t, and UREA at parity CPT buyer at 838,50 €/t.